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Copper 360 revives O'Kiep Copper District ahead of global shortage

6 Aug 2024

Copper 360 has announced the commencement of underground mining operations at its Rietberg mine in the Northern Cape. This is the first time in over four decades that copper is being mined in the O’Kiep Copper District and couldn’t come at a better time. According to McKinsey, global electrification is expected to increase annual copper demand to 36.6Mt by 2031, with forecasted copper supply to be around 30Mt, leaving a gap of 6.5Mt by the end of the decade.

Copper 360 staff welcome the first load of
copper ore mined from Rietberg Mine in

forty one years.

The reopening of the Rietberg mine is not only a significant milestone for Copper 360 but also a historic moment for South Africa's mining industry.

It represents the revival of copper mining in an area that was the site of the country's first mineral discovery by Simon van der Stel in 1685.

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"The commencement of mining activity at Rietberg is an exciting moment for us and the culmination of several years of planning; but inasmuch as it marks a milestone for Copper 360, it also signals the beginnings of a new era for the Northern Cape,” said Copper 360 CEO Jan Nelson in a media statement.

“This achievement is a credit to our executive and management and the grit and determination of the Namakwaland people that come from the communities in the area; and who form part of our Copper 360 team.”

Cluster mining model

Rietberg is the first of several dormant mines that Copper 360 plans to reopen in the area as part of its cluster mining model.

The company holds a mining right across 19,000ha, where 12 mines and 60 historical prospects have been identified.

Resource estimate: Measured & Indicated resource of 4.8Mt at 1.27% Cu representing 60,800 tonnes of copper metal.

High-grade samples: Sampling from draw points underground has yielded values as high as 6.08% copper.

Processing: Ore is being processed at the Nama Copper Modular Floatation Plant, with a production start-up target of 12,000 tonnes per month at copper grades of 1.6% Cu in situ.

Expansion: Production is expected to increase to 45,000 tonnes per month within four months as the second MFP is commissioned.

Recovery: Plant recoveries of 75 to 85% are targeted during start-up, with previous test work indicating potential recoveries of 92%.

Significant opportunity for Northern Cape

This development is expected to contribute substantially to the local economy, providing employment opportunities and supporting community development initiatives in the Northern Cape region.

It also transitions the company from predominantly producing copper plate to producing copper concentrate.

"This is significant as 80% of the company’s revenue will be generated from copper concentrate significantly growing the cash margin of the company,” added Nelson.

“It is also a testament to our Chairman, Shirley Hayes, for having the foresight to identify that Copper would become a critical future metal and then the determination to procure the mineral area and develop it over a period of 16 years.”

This initiative not only promises economic benefits but also positive social outcomes for the local communities and the historic region.